The corona crisis hits the German economy hard. However, government aid can alleviate the problems. According to their own statements, they are even decisive for the continued existence of almost half of the companies. The economy still expects many difficult months.
The state Corona aid has so far saved many companies. According to a survey by the University of Mannheim and the Center for European Economic Research ZEW, from which the "Süddeutsche Zeitung" quoted, 44 percent of the companies that applied for a state measure would not survive the crisis without this help.
Two thirds of the 8,500 companies that took part in the survey therefore claimed some form of government aid. The three most commonly used measures are short-time work benefits, Corona emergency aid and deferral of tax payments.
40 percent of the companies stated that they had lost at least 30 percent of their turnover due to the pandemic. 80 percent of companies expected a second wave of infections to occur. Almost all of them assumed that this would happen before the end of the year.
Restrictions expected for months
The result of a survey by the Munich Ifo Institute also fits in with this. Accordingly, the German economy expects restrictions well into the next year: On average, companies assume restrictions for a further 8.5 months. The service providers calculated with 8.9 months, the trade with 8.6 months, the construction with 8.2 months and the industry with 7.8 months.
Especially companies in the leisure industry feared longer restrictions of 13 months. Artistic activities and gastronomy expected eleven months. An average of ten months was expected for upbringing and teaching. In terms of accommodation, the companies anticipated restrictions of around 9.3 months; Companies in storage with an additional 8.3 months.
The companies for postal, courier and express services expected the shortest restriction on public life with an average of 6.6 months. Wholesale assumed 8.4 months and retail 8.8 months.
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